Mizuho Lowers General Mills (NYSE:GIS) Price Target to $60.00

General Mills (NYSE:GIS) had its price target dropped by equities researchers at Mizuho from $62.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 2.07% from the stock’s current price.

GIS has been the subject of a number of other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. Stifel Nicolaus cut their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Piper Sandler cut their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Barclays cut their target price on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.53.

General Mills Trading Up 0.8 %

Shares of GIS stock opened at $58.78 on Thursday. The stock’s fifty day moving average is $60.00 and its two-hundred day moving average is $65.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market capitalization of $32.40 billion, a P/E ratio of 12.78, a PEG ratio of 1.94 and a beta of 0.06. General Mills has a fifty-two week low of $55.15 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Research analysts expect that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

Several institutional investors have recently bought and sold shares of GIS. Oppenheimer Asset Management Inc. acquired a new position in General Mills in the 3rd quarter valued at about $243,000. Natixis Advisors LLC grew its position in General Mills by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 130,210 shares of the company’s stock valued at $9,616,000 after acquiring an additional 1,758 shares in the last quarter. Thrivent Financial for Lutherans grew its position in General Mills by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock valued at $3,325,000 after acquiring an additional 2,907 shares in the last quarter. Pathstone Holdings LLC grew its position in General Mills by 4.7% in the 3rd quarter. Pathstone Holdings LLC now owns 71,142 shares of the company’s stock valued at $5,254,000 after acquiring an additional 3,178 shares in the last quarter. Finally, Prospera Financial Services Inc grew its position in General Mills by 5.3% in the 3rd quarter. Prospera Financial Services Inc now owns 8,414 shares of the company’s stock valued at $622,000 after acquiring an additional 427 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.